Each city and market dynamic influences the Luxury Lifestyle of home development and its demand.
All across the US in cities such as San Francisco and especially South Florida, the demand is based on lifestyle.
When it comes to choosing a home the distinction between the upper living is the capacity of appreciating and searching for the intangible value. Quality over space has become the new trend, the upper class is signifying status by putting the priority on elements of distinction such as privacy, lifestyle, and education.
In a world were middle class and upper class can own the same brands there is no more exclusiveness. Affluent buyers are looking more into the benefits of amenities the building is offering, the recreation the neighborhood provides and the schools’ availability. The lifestyle has become a priority willing to sacrifice space to obtain it.
The High-Tech business attracted millennials that are too busy building a career and have no time for home chores or long drive planning recreational or outdoor activities. A large percentage lives on a budget to cover the living cost and repaying college debt, they feel obligated to postpone having family. Their money is just to provide the best quality of life, and Luxury Condos has been the choice they are picking.
The Market for Luxury is projecting an investment of $7 billion by 2023 in development with rich amenities and outdoor areas choices as a priority in San Francisco.
COMMUNITIES FROM MIAMI TO WEST PALM BEACH
From West Palm Beach to Miami the Luxury Market is essentially a buyer market, the older generation, primarily snowbirds or northeastern retiree known for having a second home for the winter are more & more looking into smaller and shifting investing in smaller with more luxury convenience and activities to socialize.
KEY BISCAYNE ATTRACTIVE LUXURY LIFESTYLE FOR THE AFFLUENT
Condos and Homes with value-added and historical value remain in demand. In an area as Key Biscayne, Fl buyers rather buy remodeled and turnkey, no one wants to remodel a home.
Key Biscayne remains a highly attractive community for those affluent buyers that are looking for quality lifestyle distinction, willing to pay for smaller spaces in order to acquire the living experience.
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